INVESTMENT OFFERINGtrivanta.com/wp-content/uploads/2015/04/Noahs_TX... · INVESTMENT OFFERING | $6,389,000 / 8.25 cap Noah’s 18918 Ridgewood Parkway, San Antonio, TX REPRESENTATIVE

INVESTMENT OFFERING | $6,389,000 / 8.25 cap

Noah’s

18918 Ridgewood Parkway, San Antonio, TX

REPRESENTATIVE PHOTO

Property. Brand new construction. 10,300+ SF building on 3.58+ acre site.

Tenant. Noah Corporation develops and operates innovative multi-use facilities for all life’s events to include conference center space for business, corporate,

and community events as well as weddings, parties, and other social gatherings. Today you can find Noah’s operating in Texas, Colorado, Utah & Arizona. Each

location hosts an average of 30,000 plus visitors at over 300 events annually. There are currently 28 Noah’s underway in 20 states.

Lease structure. 20-year, Absoute NNN lease beginning January 2015 with 10% rent increases in year 6 and 2% every year after in base term & options.

Location. Noah’s is located along Ridgewood Parkway off of US 281 (137,725 Cars / Day) and Loop 1604 (126,560 Cars / Day) in one of the fastest growing

and dynamic parts of San Antonio. The population within a 3-mile radius is projected to grow by 8.6% over the 5-year period ending in 2018 and in 2013, the

average household income within the same radius was $101,062. Noah’s is positioned in Ridgewood Park, a 122 acre master-planned business community,

anchored by Tesoro Corporation’s (618,000 SF) iconic $150 million Leed-Silver certified headquarters. Ridgewood Park is positioned less than 5.5 miles north of

the San Antonio International Airport and 8.5 miles north of San Antonio’s Central Business District. Ridgewood Park is adjacent to a 440,000 SF mixed-use

lifestyle center including Lifetime Fitness, numerous restaurants and retailers and a 107-room Courtyard by Marriott hotel. There are 12 hotels within a 4-mile

radius including the 1002-room JW Marriott Hill County Resort and Spa. San Antonio is located 80 miles south of Austin and 200 miles east of Houston.

214.915.8890

BOB MOORHEAD

[email protected]

JOE CAPUTO

[email protected]

RUSSELL SMITH

[email protected]

Disclaimer

PAGE 3: INVESTMENT OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 12-13: LOCATION MAPS

PAGE 14: DEMOGRAPHICS

Table of contentsNoah’s


PAGE 5: AERIAL / PHOTOS – RIDGEWOOD PARK

PAGE 7: LOCATION OVERVIEW

REPRESENTATIVE PHOTO

Trivanta (“Agent”) has been engaged as an agent for the sale of the property located at

18918 Ridgewood Parkway, San Antonio, TX by the owner of the Property (“Seller”). The

Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent

make no representations or warranties as to the accuracy of the information contained in

this Offering Memorandum. The enclosed materials include highly confidential information

and are being furnished solely for the purpose of review by prospective purchasers of the

interest described herein. The enclosed materials are being provided solely to facilitate the

prospective investor’s own due diligence for which it shall be fully and solely responsible.

The material contained herein is based on information and sources deemed to be reliable,

but no representation or warranty, express or implied, is being made by Agent or Seller or

any of their respective representatives, affiliates, officers, employees, shareholders,

partners and directors, as to the accuracy or completeness of the information contained

herein. Summaries contained herein of any legal or other documents are not intended to be

comprehensive statements of the terms of such documents, but rather only outlines of

some of the principal provisions contained therein. Neither the Agent nor the Seller shall

have any liability whatsoever for the accuracy or completeness of the information contained

herein or any other written or oral communication or information transmitted or made

available or any action taken or decision made by the recipient with respect to the Property.

Interested parties are to make their own investigations, projections and conclusions without

reliance upon the material contained herein. Seller reserves the right, at its sole and

absolute discretion, to withdraw the Property from being marketed for sale at any time and

for any reason. Seller and Agent each expressly reserves the right, at their sole and

absolute discretion, to reject any and all expressions of interest or offers regarding the

Property and/or to terminate discussions with any entity at any time, with or without notice.

This offering is made subject to omissions, correction of errors, change of price or other

terms, prior sale or withdrawal from the market without notice. Agent is not authorized to

make any representations or agreements on behalf of Seller. Seller shall have no legal

commitment or obligation to any interested party reviewing the enclosed materials,

performing additional investigation and/or making an offer to purchase the Property unless

and until a binding written agreement for the purchase of the Property has been fully

executed, delivered, and approved by Seller and any conditions to Seller’s obligations

hereunder have been satisfied or waived. By taking possession of and reviewing the

information contained herein, the recipient agrees that (a) the enclosed materials and their

contents are of a highly confidential nature and will be held and treated in the strictest

confidence and shall be returned to Agent or Seller promptly upon request; and (b) the

recipient shall not contact employees or tenants of the Property directly or indirectly

regarding any aspect of the enclosed materials or the Property without the prior written

approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied

or otherwise reproduced without the prior written authorization of Seller and Agent.

PAGE 9: SITE PLAN

PAGE 10: FLOOR PLAN

PAGE 11: SITE RENDERING

PAGE 8: RIDGEWOOD PARK SITE PLAN

PAGE 6: AERIAL – TRADE AREA

PAGE 4: CORPORATE CLIENT LIST & TESTIMONIALS

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PRICE: $6,389,000

CAP RATE: 8.25%

NET OPERATING INCOME: $527,099

BUILDING AREA: 10,300+ Square Feet

LAND AREA: 3.58+ Acres

YEAR BUILT: 2014

LANDLORD RESPONSIBILITY: None

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

Investment overviewNoah’s


Lease Expiration: January 2035

Rent Commencement: January 2015

Initial Lease Term: 20-Years, Plus 4, 5-Year Options to Renew

Rent Increases: 10% In Year 6, 2% Every Year Thereafter

Lease Type: Absolute NNN

Lease overview

Annual Rent (Year 1-5): $527,099 Annual Rent Year 13: $666,018

Annual Rent Year 14: $679,338














Option Terms: Continued 2% Annual Rent Increases Tenant overviewLESSEE: NOAH OPERATIONS SAN ANTONIO TEXAS, LLC a Utah llc

CORPORATE GUARANTY: NOAH CORPORATION, a Utah corporation

Noah’s | www.mynoahs.com

Noah Corporation develops and operates innovative multi-use facilities for all life’s events to include conference center space for business, corporate, and

community events as well as weddings, parties, and other social gatherings. Automated features and “state of the art” technology and functionality make each

room customizable. Noah’s offers boardrooms, conference rooms, game rooms, and a beautiful reception area that can accommodate upwards of 350 people.

At no additional charge, the customer has the freedom to bring in whatever food, decorations, or other services that will assist in making the event a success.

Noah’s booking fees are approximately 25% less on average than its competition and each location hosts an average of 30,000 plus visitors at over 300 events

annually.

Noah Corporation is a national brand, with active expansion in several markets. Today you can find Noah’s operating in Texas, Colorado, Utah & Arizona. As of

February 2014, there were 28 projects in various phases of site acquisition and development in 20 states, mostly in the Midwest and Southeast.

The condition of the Event and Conference Center Industry, as it exists today, is largely without product consistency. Though consumers have come to expect

consistency within the retail/restaurant experience it is curiously absent from the conference center marketplace. This Multi-Billion Dollar industry remains in

"Status Quo Condition” and consumers continue to be frustrated by various elements of service, including high cost, lack of control and flexibility, inconsistent

quality, and lack of available facilities. This sleeping, unchanging attitude in the industry has provided an opportunity for Noah Corporation to alleviate frustration

for consumers. To do this Noah’s has standardized the experience with their facilities, creating a national brand that provides four to five star space and an ease of

doing business with Noah’s.

*Rent is based on a formula that includes a % of total improvement costs and will be adjusted accordingly upon building

completion. Annual Rent shown above are estimates. Purchase Price may change but the agreed upon CAP rate will not.

3

CORPORATE Client List & TestimonialsNoah’s


Intel

Apple

Wells Fargo

Verizon Wireless

InfusionSoft

eBay

Option1 Nutrition

Cardinal Health

McDonalds

C.R. England

1-800 Contacts

Aflac

American Express

Apple

DirecTV

Discover Card

Frito Lay

GE

Home Depot

Mary Kay

Pfizer

Sherwin Williams

US Bank

Chase Bank

Edward Jones

Verizon

Centura Health

Farmers Insurance

Sashco

Taco Bell

Taco Bueno

Hurst Review

Pure Barre

ACN

Ameriprise

Pinnacle Mortgage

Texas Instruments

Verizon

Pepsico

CEO Netweavers

Juniper

Genband

Arch Fellow

CEO Space DFW

Ziosk

Nestle

LSG Sky Chefs

Mountain Range Dentistry

Jolliffe Capitol, INC

Denver Metro Realtors

Safeco

Century 21

Lte

Chick-fil-a

4

AERIAL / PHOTos – Ridgewood ParkNoah’s


Ridgewood Business Center

(129,000 SF Office Project including

PulteGroup & EOG Resources)

TESORO Corporation

(618,000 SF Corporate

Headquarters)

Future Office Development

Future Avnet Offices

(58,000 SF)

5

AERIAL – Trade AreaNoah’s


South Texas Spine

and Surgical

HospitalRyland Homes

Ronald Reagan

High School

North Central

Baptist Hospital

Local Retailers

618,000 SF Corporate

Headquarters

122 Acre Master-Planned

Business Community

6

IMMEDIATE TRADE AREA

Noah’s is located along Ridgewood Parkway off of US 281 (137,725 Cars /

Day) and Loop 1604 (126,560 Cars / Day) in one of the fastest growing and

dynamic parts of San Antonio. The population within a 3-mile radius is

projected to grow by 8.6% over the 4-year period ending in 2018 and in 2013,

the average household income within the same radius was $101,062.

Noah’s is positioned in Ridgewood Park, a 122 acre master-planned business

community, anchored by Tesoro Corporation’s (618,000 SF) iconic $150 million

Leed-Silver certified headquarters. Comprehensive protective covenants and

architectural standards along with rigorous barriers to entry at competing sites

will ensure value and quality of development within the park. Ridgewood Park’s

dramatic topography provides for unique view corridors and architectural

design options. There are multiple ingress/egress routes for vehicles allowing

easy access to US 281 and Loop 1604.

Economic Drivers:

In addition to Tesoro’s headquarters, Noah’s is strategically positioned adjacent

to Avnet Inc.’s brand new 2 story 58,000 SF facility projected to open in August

2014 and Ridgewood Business Center which includes PulteGroup Inc. (NYSE:

PHM) and EOG Resources (NYSE: TSO).

The subject property is less than 5.5 miles north of the San Antonio

International Airport, 8.5 miles north of San Antonio’s Central Business District,

and is adjacent to a 440,000 SF mixed-use lifestyle center including Lifetime

Fitness, numerous restaurants and retailers.

In Bexar county, the average number of guests per wedding is 160-180, and

96% have less then 300 guests. Last year there were 12,920 weddings county

wide. Noah's only needs to capture 0.8% of the market to be a highly

successful wedding venue. The average wedding budget for the area is

$25,000 compared to Noah's typical wedding cost of $18,000 - $20,000

A 107-room Courtyard by Marriott borders Ridgewood Park. There are 11 other

hotels within a 4-mile radius including the 1002-room JW Marriott Hill County

Resort and Spa.

The Far North Central Medical Center, featuring 2 full-service hospitals

(Methodist and Baptist) is less than 2 miles away.

Ronald Regan High School, Omar Bradley Middle School, Stone Oak

Elementary, and Hidden Forrest Elementary are nearby as well.

SAN ANTONIO, TX

San Antonio is the 2nd largest city in the state of Texas and the 7th largest city

in the United States, with a population of over 1.3 million. San Antonio also

serves as the seat of Bexar County (population: 1,714,773).

San Antonio’s unique geographical position connects the east and west coasts,

Canada, Mexico, Central and South America. Interstate highways connect San

Antonio to the major Texas population centers and to primary border crossing

points into Mexico including Laredo, Del Rio, Eagle Pass and the ports at

Corpus Christi and Houston.

San Antonio has a strong military presence—it is home to Fort Sam Houston,

Lackland Air Force Base, Randolph Air Force Base, Brooks City-Base, Camp

Bullis, and Camp Stanley. The defense industry in San Antonio employs over

89,000 people and provides a $5.25 billion annually to the city’s economy.

The South Texas Medical Center consists of 900 acres of medical-related

facilities in NW San Antonio. The center directly serves 38 Texas counties,

consists of forty-five medically related institutions: separate medical, dental and

nursing schools, five higher educational institutions, twelve hospitals, and five

specialty institutions. These facilities combined currently total over 4,200 beds.

More than $1 billion in new construction projects are currently planned between

2012 and 2014.

Greater San Antonio has a diversified economy with four primary focuses:

financial services; government; health care, and tourism. Greater San Antonio

is home to 2 of the 140 Fortune Global 500 headquartered in the US: Valero

Energy Corp (#33) and Tesoro Petroleum Corp (#317). Additionally, 5 Fortune

500 companies call the area home: Valero; Tesoro; USAA; Clear Channel

Communications; and NuStar Energy. H-E-B, the 19th largest private company

in the United States, is also headquartered in San Antonio. Other notable

companies with headquarters in the MSA include Kinetic Concepts, Frost

National Bank, Harte-Hanks, Eye Care Centers of America, Bill Miller Bar-B-Q

Enterprises, Taco Cabana, WhataBurger, Rackspace, and Carenet Healthcare

Services. Additionally, Nationwide Mutual Insurance, Kohl’s, Allstate, Chase

Bank, Philips, Wells Fargo, Toyota, Medtronic, Sysco, Caterpillar, AT&T, West

Corp, Citigroup, Boeing, QVC, and Lockheed Martin all have regional

headquarters in the city.

Over 20 million tourists visit the city and its attractions every year, which

provides over $10.7 billion and 100,000 jobs to the local economy. The city is

home to 31 higher education facilities (that serve over 100,000 students)

including campuses of the University of Texas and Texas A&M as well as top-

rated private universities such as Trinity University and St. Mary’s University.

Location overviewNoah’s


7

RIDGEWOOD PARK SITE PLANNoah’s


8

SITE PLANNoah’s


9

Floor PLanNoah’s


10

SITE RENDERINGSNoah’s


11

Location mapNoah’s


12

Location mapNoah’s


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http://www.bing.com/maps/?FORM=Z9LH2

http://www.bing.com/maps/?FORM=Z9LH2

DEMOGRAPHIC SNAPSHOT

DemographicsNoah’s


Radius 1 Mile 3 Mile 5 Mile

Population:

2018 Projection 5,096 78,850 215,597

2013 Estimate 4,830 72,590 198,721

2010 Census 4,989 68,465 188,163

Growth 2013-2018 5.51% 8.62% 8.49%

Growth 2010-2013 -3.19% 6.02% 5.61%

Households:

2018 Projection 2,045 30,730 83,137

2013 Estimate 1,939 28,288 76,639

2010 Census 2,012 26,761 72,854

Growth 2013 - 2018 5.47% 8.63% 8.48%

Growth 2010 - 2013 -0.82% 1.62% 2.07%

Owner Occupied 1,021 18,417 51,613

Renter Occupied 918 9,870 25,026

2013 Avg Household Income $87,584 $101,062 $102,404

2013 Med Household Income $73,089 $81,994 $81,993

2013 Households by Household Inc:

<$25,000 181 3,582 8,963

$25,000 - $50,000 405 4,924 14,103

$50,000 - $75,000 411 4,476 12,214

$75,000 - $100,000 300 4,150 10,868

$100,000 - $125,000 234 3,386 9,315

$125,000 - $150,000 194 2,377 6,000

$150,000 - $200,000 150 3,045 8,287

$200,000+ 65 2,346 6,890

Downtown San Antonio, TX

TESORO Corporate Headquarters, San Antonio, TX

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Documents

INVESTMENT OFFERINGtrivanta.com/wp-content/uploads/2015/04/Noahs_TX... · INVESTMENT OFFERING | $6,389,000 / 8.25 cap Noah’s 18918 Ridgewood Parkway, San Antonio, TX REPRESENTATIVE